Day 1,405: Biden’s 2020 post-election stock market surge more than doubles Trump’s 2016 post-election stock market gains

Trump celebrated both.

The Dow Jones Industrial Average topped 30,000 points Tuesday. It was the first time the index hit the milestone.

Donald Trump, of course, pounced to take credit.

For years, Trump has ignored that he inherited a roaring economy from Barack Obama. He acted like he turned around a decrepit economy, when in reality, Obama handed Trump the keys to a well-tuned car and now many vital economic metrics are worse today than when Obama left office: job gains are down, GDP is down and unemployment is up.

After his surprise 2016 election victory, Trump took credit for the bump in the Dow after the election. (Trump has consistently linked the stock market to the economy when they are vastly different things.) Routinely, when showing markets’ growth, Trump would claim November 2016 was where his “credit” should start, instead of January 2017.

Yet on Tuesday, Trump was taking credit — rather than giving it to Joe Biden — for the surge to get the Dow over the 30,000 hump.

In fact, comparing post-election growth from the 2016 and 2020 elections three weeks after each, markets’ reaction to Biden’s win is outpacing Trump’s by a better than two-to-one margin.

From November 8, 2016 to November 29, 2016, the Dow jumped from 18,332 to 19,121, a 4.3% gain.

From November 3, 2020 to November 24, 2020, the Dow jumped from 27,480 to 30,046, a 9.3% gain.

In 2016, after his win, Trump celebrated markets’ bumps as his own. Now, in 2020, after his loss, Trump is celebrating a doubly-large markets’ bumps as his own as well.

1,405 days in, 57 to go

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